Tahya Misr Fund finances Mastoura programme with EGP 250m

Daily News Egypt
2 Min Read

Minister of Social Solidarity Ghada Waly inaugurated a number of projects in the social solidarity sector during her visit to Al-Sharqiya governorate, pointing out her review of next year’s work plan for the development of the entire Nasser Social Bank (NSB) during a meeting with Al-Sharqiya Governor Khaled Saeed and a number of officials.

Waly said that NSB branches will witness significant development in infrastructure, as well as financing products, adding that the bank is working to provide school funding for families with children in schools.

She noted that she discussed a new product called Mastoura, during her meeting, to finance micro loans for women, so as to increase their income and provide more jobs, especially for women who request financial support while being able to work.

Waly pointed out that they have been provided a place to work and receive financial support. She also said that the Tahya Misr Fund has provided new funding of EGP 250m to NSB to support microprojects.

Moreover, Waly said that the ministry is trying to work on protection, care, and development, therefore, it must be able to support citizens who are unable to work.

She also announced launching Mastoura project NSB, devoted to funding women’s microprojects.

This comes as part of a work plan to restructure the branches of NSB to provide funding for microenterprises of women, provide a decent life for them, and improve their standard of living, as well as provide access to pension services via mobile phones to decrease the long waiting lines at branches. NSB will also offer loans for families to improve the standard of education, obtain housing, and fund marriage expenses.

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